Advice for non-finance related degrees

Many students believe that having a degree that is not related to finance will hurt their chances of getting an interview with London investment banks. However, the truth is that many investment bankers never studied accounting or finance when they were undergraduate students. Nevertheless, there are a few traps that you will need to avoid, and some good tips to best position yourself. Here is what you should bear in mind when applying and interviewing:

#1 If you are a science student, play on the analytical angle

In your early days as a junior banker, your job will be all about numbers. Therefore, a background in hard sciences such as physics, engineering, chemistry, etc. is very well regarded by investment bankers. In your application and during your interview, do highlight that you like to deal with numbers and highly analytical subjects. Bankers will always be impressed if you can show that you are mastering topics that sound complicated such as abstract mathematics, theoretical physics, nuclear engineering or organic chemistry.

#2 If you are from a "soft" subject such as Politics, Psychology, etc., then you will need to demonstrate analytical ability somewhere else in your CV

The first thing that goes in the mind of a banker when seeing a degree in a soft subject is "can this person handle the numbers?". Therefore, when applying, you need to show analytical ability in your extra curricular activities or hobbies. This can be very simple things such as managing a budget for a Club as a Treasurer, having built spreadsheets or worked on anything quantitative during a past internship, and highlighting readings newspapers such as the Financial Times to familiarise yourself with some of the finance jargon. A good way would be to read a couple of banking and finance books and try to familiarise yourself with some valuation concepts

#3 Use your non-finance degree to differentiate and indicated your preference for a specific sector

Are you a Computing Science major? Then mention that you would like to work with Technology clients in the Technology M&A Group, or work in equity research covering Technology stocks. Similarly:

-Chemistry major: good for Industrials clients and covering Chemical companies (i.e. Solvay, Dupont), know a couple of chemical companies' names.

-Biology, Medecine: Healthcare clients -Physics: Industrials -Engineering: Industrials, Technology or Telecommunication clients -Marketing major: Retail and Consumer clients, Media clients

-Law: UK M&A group or UK companies, since you understand the legal environment

-Maths: try complicated industries that like Maths backgrounds such as Telecommunications

-For History, Geography, and Psychology, etc. it will be more difficult to find an angle but if you show interest in finance and numerical ability, you will be perfectly fine.

#4 Have a good story on why you want to do investment banking

Be prepared to answer the question: why did you choose to study History/Engineering/Biology, and why are you interested in investment banking. If you are a non-finance student, try to get involved in finance-related activities as soon as you can.

#5 In the UK, banks are very open to non-finance backgrounds, as long as you get good grades

While this is not generally the case in Continental Europe, where banks will typically want to see a finance related degree (the exception being engineers and lawyers), the UK system is very open. What Investment Banks want to see primarily is evidence of analytical ability through your activities and through passing numerical tests and brainteasers, and well-rounded personalities that have maturity, good communication skills and will be able to handle pressure and interact with senior people. To conclude, in most cases, a non finance degree can come as a blessing to differentiate yourself in an industry that is still mostly populated by economics and finance majors, and following the above advice will help you playing it as a strength.